Property Taxes Payment of property taxes is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the buyer occupied the property.
Transfer Taxes and Recording Fees Transfer taxes and recording fees are the cost for transferring ownership of the property and recording the purchase documents. The fee is often calculated as a percentage of the sales price.
MEMBER FDIC
Rates vary daily and are subject to change without notice.
All loans are subject to credit approval, verification, and collateral evaluation. Initial decision is subject to you meeting specific underwriting requirements and final approval will be based upon you satisfying those requirements. Loans originated by Troy Bank and Trust Company.
This information is provided for illustrative purposes only and does not constitute an application. This notice does not guarantee loan approval, nor is it an offer or commitment to make a loan to you on the above terms. The APR, fees, and closing costs are all estimates based on Troy Bank and Trust Companys normal and customary fees and typical tax and insurance costs in the stated property's vicinity.
Troy Bank & Trust Company, Inc (NMLS 409724) 1000 Hwy 231 S P. O. Box 967 Troy, AL 36081-3105
Tax Closing Costs
